The present invention relates to cakes, and more particularly pertains to an improved no fat, no cholesterol cake. For health reasons, there is an increasing interest in no fat and no cholesterol bakery products. In order to produce such products, particularly cakes, the prior art has proposed various cake mixes in which the conventional shortening components are replaced with alginate and other fillers and chemicals. Many individuals have found such chemical and filler laden cakes to be unacceptable, both for reasons of their unnatural ingredients, as wells as for their poor taste and mouth feel. Accordingly, there is an interest in and need for an improved no fat, no cholesterol cake consisting entirely of natural ingredients, and possessing good flavor and mouth feel characteristics.